Has the power and culture of the original Bible has been high-jacked by the English translators? The Bible we read today in English has had much of the meaning, power and Hebrew culture washed out of it by English translators! Read more
According to the Jerusalem Post,
“Delek Drilling, a member of the Leviathan partnership, made the announcement in the company’s third quarter financial report for 2014. The 621-billion cubic meter reservoir, located about 130 km. west of Haifa, will eventually be used for both domestic and export purposes.
In addition to Delek Drilling – which owns 22.67 percent of the basin – another Delek Group subsidiary, Avner Oil Exploration, also holds 22.67% of the reservoir, while Houston-based Noble Energy owns 39.66% and Ratio Oil Exploration has a 15% stake.”
Leviathan production is planned to involve two stages, the first going to domestic markets in Israel, the second going to export markets, with the first stage production at 18 billion cubic meters (635.7 billion cubic feet) per year.
As of a May 2013 the US Energy Information Administration reports that Israel’s domestic natural gas consumption is about 245 bcf, up a whopping 300% from its previous year. Israel’s coal consumption (used to power electrical generation plants) is planned to go down dramatically as more natural gas comes online.
The US EIA report also showed Israel’s electricity consumption going up over the last year and it’s petroleum consumption going down slightly.
This news brings up three interesting observations:
- Israel’s natural gas consumption is going up dramatically and expected to climb further as it replaced imported coal for electrical generation. As more natural gas comes online for domestic use, Israel will rely less and less on foreign energy sources. Israel is becoming, right now, more energy independent.
- Leviathan alone, in it’s first stage production, will produce more than two and a half times Israel’s current natural gas consumption. Leviathan isn’t the only potential source of Israel’s natural gas; Delek’s Tamar field produced 77.7 bcf of gas in just the third quarter this year – essentially 100% of Israel’s 2013 consumption. Israel is already natural gas independent and will soon be energy independent for electricity production.
- As Leviathan, Tamar and other natural gas sources continue to come online, Israel will become a major exporter of natural gas. Letters of intent to supply natural gas to Jordan and Egypt.
Something not mentioned in the recent Jerusalem Post article, Delek’s report or by the US EIA is the general assumption that oil reserves most likely lie under the gas fields. It’s a very real scenario that Israel will become not only energy independent in the near future but also a significant regional energy exporter.
How do you think this would change Israel’s current economic and political prospects?
*(photo credit: MINISTRY OF NATIONAL INFRASTRUCTURES)
In 2009, geologist Yuval Bartov made the discovery of a lifetime when he drilled in southwest Jerusalem. When he pulled out a cylinder of rock, he discovered that it contained oil. Israel has never had significant domestic oil production and has purchased nearly all of its oil from outside sources.
The oil Bartov discovered wasn’t in liquid form but it can be extracted. With the help of Shell scientist Harold Vinegar, the oil that stuck onto to the rock that Bartov discovered can be melted and pumped into the surface for amassing.
Gabi Barkay, an Israeli archaeologist, said that gold has been a part of Jerusalem’s history for thousands of years. Jerusalem has always been called the City of Gold and artefacts that often showcase the precious yellow metal’s role in the city are now being exhibited to the public.
“Gold was represented very much in Jerusalem,” said Barkay. “The inside of Solomon’s temple was covered with gold. Even the walls were gold plated. The ark of covenant and the cherubim were covered with gold. Solomon’s ivory throne was covered with gold.”
Oil and gold extraction are both problems that mining companies around the world are now facing. While both commodities are still largely unexploited in Israel, they’re now scarce in other parts of the world.
There are theories about peak oil and gold in the U.S, and there are several proofs that support these. One of which is Bakken’s graph below, which showed a tremendous decline from -63,000 bd last year to around -72,000 bd in July this year. Bakken is a very important oil reserve site in the U.S.
Porter Stansberry, a columnist for the Daily Wealth, believes that the there’s no such thing as peak oil yet. In an article by BullionVault, Stansberry discussed that the Peak Oil theory is wrong because it doesn’t include the future discoveries that could extend the life of oil reserves. Israel discovered oil just 5 years ago and Stansberry may be right. However, the U.S. is yet to prove the peak oil theory wrong.
Gold mining will be affected greatly if oil production around the world deteriorates. Gold is dependent on oil, which is used to power the machineries in extracting ores. Now, Israel has both and the world is watching closely as to what the country will do with these two, newfound precious commodities.
What is a Blood Moon, why is this year and next so important and what do they have to do with Israel?
Here’s a synopsis from blogger Paul Grevas (read Paul’s full Bloodmoon article here):
“’And I will show wonders in the Heavens….., The sun shall be turned into darkness and the moon into blood BEFORE the great and terrible Day of the Lord come.’ (Joel 2:30,31)
“As this scripture reads, the focus on this article is to bring an acute awareness that our Almighty God has prepared an unprecedented arsenal of “Divine” Heavenly SIGNS presently being unleashed upon the world, specifically this year and next, (2014-2015). These SIGNS will spawn as Mighty and Supernatural earthly events as ever has been seen. Our recorded history tells us so.
“Why Is This Coming Blood Moon TETRAD So Rare?
Can you imagine in our lifetime of EVER seeing 4 consecutive Total Lunar Eclipses in one sequence, called a TETRAD, and 4 Solar Eclipses occurring in a span of 17 ½ months? That’s 1 eclipse every 65 days. That is RARE.”
Regarding Bible Prophecy , oil and Israel, Paul adds:
“Specifically, the prophecized major earthly events that are already primed to unfold are:
- The Psalm 83 War where Israel’s hostile border neighbors are completely decimated by Israel’s Defense Forces (Ezekial 37:10 and Issiah 54:17 : “No weapon formed against thee shall prosper”). Can Iran, who says they will destroy Israel, hear this?? This war highlights today’s daily news headliner, Damascus, Syria, the world’s longest, largest, “continuing” city which will become a “ruinous heap….in one evening” ( Issiah 17:1,14). By the way, Israel has a population of 5.5 million and is the size of New Jersey. Israel’s border neighbors are the size of ½ of the continental United States with a population of 170 million. ( Egypt, Iraq, Jordan, Syria, Saudi Arabia, Lebanon, Gaza, and the West Bank).
- The Gog/Megog war where oil-hungry Russia, Iran, and Turkey are “lured” like a fish on the hook to come upon oil-rich Israel (Ezekial 38:4). There 5/6 of their mighty military is supernaturally destroyed by God Almighty (Ezekial 39:2).
- Maybe the consummation of the currently ongoing Peace Process Treaty talks between Israel and the Palestinians will set the stage for all the other “dominoes” to fall. This process is wholly brokered by the United States and has been ongoing since July 29, 2013. It is scheduled to end April 29, 2014, the exact day of a Solar Eclipse (NASA). Also, all sides have agreed to stay involved for the duration and this has NEVER EVER happened before, ( Daniel 9:27). WOW, that’s right smack into the sweet spot of the BLOOD MOONS. I get that. This Treaty, if signed, will wrecklessly violate God’s eternal covenant with Abraham because Israel’s land will be divided up (Genesis 12:3 and 15:18). This peace process is scheduled to last EXACTLY 9 months. This is precisely the duration time of a pregnancy where a mother’s birth pangs increase in frequency and intensity and are eventually “UNSTOPPABLE”. I mention this because, and most fittingly, there is a Bible Scripture in 1 Thessalonians 5:3 : “When they say Peace and Safety then sudden destruction comes upon them as travail upon a woman with child”. (Also, Revelation 12:2). Very intriguing.
- Or maybe it’s the “loose cannon” in North Korea, maybe the Rapture, maybe the One World Order as we are so globally integrated with Facebook, Twitter, and cell phones galore. Or just maybe it’s the End of the Age beginning with the 7-year Tribulation Period and culminating in the 2nd Coming of Jesus.”
So what do you think? We know about Israel and oil in prophecy, and we know Joel’s prophecy of the moon turning to blood. Do these stacked occurrences of the blood moon point to some significant event or events?
The Jerusalem Post reported recently that Noble Energy has signed a deal to supply gas to Egypt via the same pipeline that supplied Israel with Egyptian gas for years. Also in the JP article are mentions that Noble has agreed to sell gas to the Palestinians and to Jordan (my highlights in red below).
Turning the tables on the region’s natural resource flow, Israeli gas may soon surge southward through the Egyptian pipeline that for several years provided gas to Israel – but fell victim to saboteurs in Sinai.
The developers of the 282-billion cubic meter Tamar reservoir, which has been supplying gas to Israelis since March 2013, have signed a letter of intent to sell 2.5 b.cu.m. annually to the Egyptian firm Dolphinus Holdings Limited, the Delek Group reported to the Tel Aviv Stock Exchange on Sunday morning. This gas surplus sold to the Egyptian firm from Israel’s local supply will begin serving private industrial consumers already in 2015, according to the partners.
The move looks to revitalize Egypt’s East Mediterranean Gas Company pipeline that for several years carried gas from Egypt to Israel. In 2008, EMG began supplying Israel with about 40 percent of its natural gas provisions, until saboteurs began thwarting the flow through Sinai pipeline explosions. Following 14 months of such attacks, the Egyptian government formally terminated the agreement between EMG and Israel in April 2012.
At Tamar, located about 80 km. west of Haifa, Noble Energy holds 36% of the basin. Delek Drilling and Avner Oil Exploration each own 15.625%, while Isramco owns 28.75% and Dor Gas owns 4%.
The neighboring 621-b.cu.m. Leviathan gas reservoir, about 130 km. west of Haifa, is expected to begin flowing in 2017. Noble Energy owns 39.66% of Leviathan, while Delek Drilling and Avner Oil – both subsidiaries of the Delek Group – each own 22.67% and Ratio Oil Exploration holds 15%.
The realization of the project will help maximize the production capabilities from the Tamar reservoir, and will strengthen the Israeli economy by increasing tax and royalty revenues, said Delek Drilling CEO Yossi Abu.
Sunday’s announcement joins a number of other regional agreements and understandings that the Tamar and Leviathan partners have signed with Israel’s neighbors.
In September, the Leviathan reservoir partners signed a letter of intent to sell 45 b.cu.m. of natural gas to Jordan’s National Electric Power Company over a 15-year period.
Empty liquefaction plants in Egypt have become an attractive option for Israeli gas. The British Gas Group signed a letter of intent with the Leviathan partners for the 15-year supply of 105 b.cu.m. of natural gas to its Idku plant.
Meanwhile, in early May, the Tamar reservoir partners signed a letter of intent with Spanish firm Unión Fenosa, for the provision of 71 b.cu.m. to that firm’s liquefaction facility in Damietta.
In January, the Leviathan partners signed their first export deal – a $1.2b. sales agreement with the Palestine Power Generation Company.
According to the agreement, PPGC is set to buy around 4.75 b.cu.m. of gas over 20 years, to fuel a future 200-megawatt power plant in Jenin.
A month later, the Tamar reservoir partners signed a $500 million deal to provide 1.8 b.cu.m. of gas to the Jordanian firms Arab Potash and Jordan Bromine, to power their Dead Sea facilities for the next 15 years, beginning in 2016.
As far as Sunday’s letter of intent signed with Dolphinus is concerned, this latest deal is “another important link in a sequence of agreements that will enable the supply of natural gas to the domestic market in Egypt,” said chairman of Delek Drilling and CEO of Avner Oil Exploration Gideon Tadmor.
“I have no doubt that these are agreements that will strengthen the relations between Israel and its neighbors,” Tadmor said.
JERUSALEM, Oct 27 (Reuters) – U.S.-based Genie Energy could turn to the courts or even Mongolia in its effort to challenge a local government decision that has blocked its hunt for oil just over 40 kilometers from Jerusalem, a senior official at the group said.
Genie, backed by media mogul Rupert Murdoch, says it aims to secure energy independence for Israel, a country that has never had a serious oil find despite years of exploration.
But Genie is battling a growing number of setbacks. Last week, the Supreme Court put on hold a separate plan to drill exploratory wells in the Israel-controlled Golan Heights.
Drilling in the Ella valley outside Jerusalem is key for Genie, however, and Geoffrey Rochwarger, head of Genie’s operations in Israel, said on Monday that the company could appeal to the Supreme Court to overturn the ruling last month.
“We were a bit surprised — shocked is probably a better word for it,” Rochwarger, also vice chairman of Genie.
Genie had been due to begin drilling in the biblical valley where David is said to have fought Goliath. The area of its license alone contains 40 billion barrels of oil, the company estimates, more than what the world consumes in a year.
The company spent over $20 million preparing for the pilot.
But after years of lobbying from environmentalists and residents, a Jerusalem local committee last month stopped work on the project, citing historical interest and possible environmental impact. It also expressed concerns about scaling up to commercial production.
“We now have to decide what do we want to do. What’s our next step?”
Rochwarger said Genie’s technique causes minimal damage to the surroundings. A similar method, he said, will soon be used by Royal Dutch Shell in neighboring Jordan.
Help in promoting the project, however, could also come from Mongolia, where Genie last month received permission to conduct a similar pilot – even if collecting data could take years.
“In Mongolia we would probably try…to replicate, or just emulate, as many of the characteristics as possible, to be able to then use the data afterwards,” he said.
Genie Energy was spun off from telecoms group IDT Corp in 2011. As well as Murdoch, it has attracted investment from financier Jacob Rothschild. Together they own a 5.5 percent stake worth $11 million. Former U.S. Vice President Dick Cheney is on the advisory board.
“What we’re doing, energy independence for Israel, makes a lot of sense to them,” Rochwarger said.
Genie plans to drill 10 exploratory wells over three years in the Golan Heights, at a cost of $25-$30 million.
Rochwarger argues Genie’s geological evidence is strong — even though not far away, Zion Oil and Gas and Givot Olam have been drilling for years and have yet to find commercially viable deposits.
The plan has received government approval, but since Oct. 20 faces a two-month, court-imposed injunction after an environmental group petitioned for further discussion.
“The delays affect not only the company, but also dozens of suppliers from the Golan and Israeli workers,” Rochwarger said.
Israel captured the Golan Heights from Syria in a 1967 war and annexed it in a move not recognized internationally.
“If we can prove the resource, we believe that this becomes a project of national significance, and that the government will do what it can to protect its rights to this resource,” he said. (Editing by Clara Ferreira Marques)
We’ve come a long way from “There’s no oil and gas in Israel.” As an evidence of it’s oil and gas discovery renaissance, Israel is holding its first International Oil and Gas Conference this year. Go Israel! Read more
(Reuters) – Noble Energy Inc (NBL.N) slashed the risks to its colossal Israeli natural gasproject by selling a stake to Australia’s largest oil producer and sealing a crucial supply deal with a Palestinian power company in one of the world’s political flash points.
Both steps, carefully choreographed over the past month, should help Noble achieve its goal of doubling production by 2018 and mitigate Wall Street’s fears about the company’s prospects in the politically unstable region.
In a deal worth $2.55 billion in cash and future revenue, Australia’s Woodside Petroleum (WPL.AX) agreed last week to help Houston-based Noble Energy and three Israeli companies develop the offshore natural gas field Leviathan. The field, along with smaller ones nearby, holds nearly 40 trillion cubic feet of natural gas, the same amount consumed each year in the United States.
The deal came a month after the Noble Energy consortium signed a $1.2 billion contract to begin supplying natural gas to the Palestine Power Generation Co. in a couple of years.
The group is already shipping gas to Israel from a small field near Leviathan, meaning Israel and the Palestinian Authority will both rely on the same source for natural gas.
Woodside’s experience in liquefied natural gas (LNG) projects will help regional exports begin sooner. Selling to a broad range of neighboring countries should reduce the project’s appeal as a target for attacks, security analysts say.
In a sign of how vital the natural gas is to Israel, its military patrols the seas above the deposits to defend against any potential attacks.
The company decided potential risks of developing the fields amid the geopolitical turmoil were acceptable considering the probable rewards, said a well-placed source who declined to be named, citing a policy of not speaking to the media.
“When you think of Middle East conflicts, Israel really is in the best place in terms of risk,” said the same source, who is close to the company’s board of directors.
Noble will remain the project’s operator after the Woodside deal closes later this year, holding 30 percent to Woodside’s 25 percent. The other three partners – Delek Group (DLEKG.TA), Avner Oil & Gas Exploration (AVNRp.TA), and Ratio Oil Exploration (RATIp.TA) – will each hold less than 17 percent.
For Noble, the enormous offshore project in foreign waters is one it must undertake, analysts and investors say, if it hopes to replenish declining reserves faster than fellow rivals such as independent energy producers Marathon Oil Corp (MRO.N), Anadarko Petroleum Corp (APC.N), and Apache Corp (APA.N).
Noble first began operating off Israel’s coast in 1998, but it was not until 2010 that Leviathan was discovered. The company recently said there could be large oil deposits near the formation as well.
The cost to produce natural gas in the Mediterranean is only slightly less than market prices in much of Europe right now, suggesting that Asia – where prices are double Middle Eastern production costs – could be an attractive export opportunity.
That global export potential helped lure Noble and its partners to Woodside in the first place, given the Australian company’s LNG expertise.
Indeed, Noble Energy Chief Executive Chuck Davidson flew to Perth last month to negotiate with Woodside, which agreed tentatively to the deal in late 2012, then cooled to the idea when it was unclear whether Israel would allow LNG exports.
Noble and its development partners fought aggressively for the right to export 40 percent of the natural gas in Leviathan and nearby fields, winning that right late last year in a decision from Israel’s supreme court.
“You knew that Israel would be pragmatic about negotiations with Noble Energy on this,” said Tim Rezvan, an energy analyst at Sterne Agee. “Leviathan is too important for the country as it works to produce more energy locally.”
Expectations are high on Wall Street, where Noble Energy’s shares have sagged in the past three months amid a dip in the price of crude oil and rising production costs. At current estimates, Leviathan is expected to begin operations in 2017.
“Assuming the project comes online, it’ll be a big part of the pie at Noble Energy,” said Rezvan.
To be sure, Noble is still investing aggressively in its United States onshore shale operations, planning to spend 70 percent of its $4.8 billion capital budget this year on projects in Colorado’s Denver-Julesburg Basin and the Pennsylvania Marcellus formation.
But it’s spending the remainder of that budget on deepwater projects in the Mediterranean and elsewhere, and hopes to use cash flow, not debt, to finance future Israeli expansion.
“The continued demand for our gas in both Israel and other regional areas combined with the potential for multiple LNG or FLNG solutions sets us up for some dramatic growth in this region over the next decade or longer,” David Stover, Noble Energy’s president, told investors early last week.
A rare snowstorm in Jerusalem in December sharply increased natural gas demand, giving investors a hint of the project’s longer-term potential. Many Israeli power plants had to temporarily switch from coal to natural gas to produce power.
That storm helped Noble Energy’s fourth-quarter sales volumes jump 16 percent.
“This whole region has a lot of potential due in part to the size of these energy reserves,” said Emre Tuncalp of Sidar Global Advisors, a geopolitical risk advisory firm that specializes in energy matters. “Given all the components that need to come together to develop this area, I think it’s moving forward pretty well.”
The deepest oil well drilled in Israel’s 65-year history may be the most important.
Houston’s Noble Energy Inc. (NBL) will probe 6,500 meters (4 miles) below the Mediterranean seabed later this year, targeting as much as 1.5 billion barrels of crude, equal to about 15 years of Israeli demand.
While explorers have found enough natural gas in the past five years to turn Israel into an exporter, a major oil discovery would break new ground. The Middle East’s third-largest economy spends about $10 billion a year importing 98 percent of the oil it uses. Domestic production would increase tax revenue, boost the country’s balance of payments and reduce vulnerability to supply disruptions.
“The economic impact on Israel would be far greater than that of natural gas,” David Wurmser, director of the Washington-based Delphi Global Analysis Group, said in a phone interview. “Finding the oil would mean big money for the Israeli companies and the government.”
The Jerusalem Post wrote in an article yesterday that an offshore transmission buoy would begin operating today, supplying liquefied natural gas to Israel. Israel’s offshore Tamar gas field won’t begin production until April, but the offshore buoy is capable of supplying 4 -5 million cubic meters per day until Tamar’s production comes online. The Israeli government estimates that this new supply channel of natural gas will save the their economy 500 million NIS ($135 million) in just the first few weeks of operation, and billions in the next few years. Energy transferred from the new natural gas supply will generate 3,000 to 4,000 megawatts per hour (30,000 – 40,000 homes). This new supply is a milestone in Israel’s 80/20 goal, to have 80% of the country’s electrical energy needs supplied by natural gas. When Israel’s recent natural gas discoveries come into production they will be capable of supplying 100% of their natural gas needs without imports and export natural gas to other markets.